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Retirement Tips: Should I Purchase Long-Term Care Insurance?


When you plan for retirement, the first things that come to mind might be vacations, lounging on a beach, traveling, and enjoying your grandkids. Naturally, focusing on the fun times head may be the first thing on your list, but all seniors should also consider how they will fund their long-term health care.

According to various statistics, 70 percent of American seniors will need some sort of living assistance, which can be costly and break a person’s savings accounts. Unfortunately, long-term care is not covered by Medicare and that gap in the coverage can leave many seniors on the outside looking in when it comes to receiving care.

One way to subsidize that gap is through long-term care insurance. However, coverage can be costly and expensive. Let’s take a closer look and figure out the best options for seniors looking for long-term care coverage.


Should I Purchase Long-Term Care Insurance


Accidents can strike at any time and if you are injured or incapacitated and need long-term care, things can get expensive quickly. Luckily you can purchase long-term care insurance to help cover the cost of part or all your nursing home stay.


This may seem like a great solution, but the insurance can be expensive and not worth the price.

For people in California, however, Medi-Cal Planning may be the perfect fit for seniors looking to protect their assets and savings while still receiving care. Contrary to popular belief, Medi-Cal is not a poverty program. ANY ONE can qualify. The key is to start planning NOW, before you need long-term care in the first place.


The Answer: Medi-Cal Planning


The Medi-Cal program pays for long-term care and has become to “go-to” solution for Californians in need of assistance. However, seniors should know that the state of California does have a 30 month look back period where they can examine your assets and accounts. Seniors should use a certified Medi-Cal planning attorney before trying to qualify for the program as there can be a lengthy illegibility period if the correct steps are not qualified.


Call For a FREE Medi-Cal Planning Consultation


Elder Law Services of California specializes in Medi-Cal Planning and helping our clients receive long-term care coverage. If you are a senior and need help planning for the future, please contact us at (800) 403-6078 for a FREE phone Consultation today. We look forward to helping your retire with ease and peace of mind that your long-term care needs are covered.

Serving Our Community Since 1995

Elder Law Services of California, APLC provides the same strategic planning and legal representative of larger firms, yet in a personalized, family-like manner. Our priority is to provide the highest level of legal services and client satisfaction when representing your Medi-Cal Planning, Estate Planning, Trust Administration, or Probate cases. Above all, we understand the importance of you and your family’s financial future and legal security.

Our team of Attorneys and legal support staff have assisted thousands of different families by giving them the freedom to plan for the security of their future, while also providing peace of mind with our experienced legal advice. As our name, Elder Law Services of California, APLC serves all families in California, with convenient locations throughout Los Angeles, as well as locations in Northern California, and San Diego.

Whether you need to qualify for Medi-Cal, pay for long-term care, create an estate plan and powers of attorney, proceed a conservatorship, protect your assets, or deal with the loss of a loved one, our team is there for you every step of the way. Sadly, many families are unprepared for any significant planning for their future, so take the first step today to protect your family’s integrity.

Elder Law Services  of California, APLC.
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